01.08.2024
Transport Minister Alexis Vafeades announced that the development of Larnaca Marina and Port will be divided into two separate projects, with a total estimated cost of up to €30 million, excluding VAT. Based on the recommendations of the specially formed Larnaca committee, it was decided to delay final decisions on the expansion of the marina and port until the completion of a relevant expert study.
These decisions followed the termination of a €1.2 billion contract by the Kition Ocean Holdings consortium on May 27, marking the third failure of the project after previous attempts in 2010 and 2015. Vafeades emphasized that the cancellation of the contract should not deprive Larnaca of essential projects and highlighted the importance of their prompt implementation.
The modernization works at the marina will include dredging the marine area of 25,000 square meters at the marina’s entrance, as well as subsequent maintenance within the marine zone. Additionally, there are plans to repair the dock and create a new area for boat servicing. Moreover, the fencing will be removed for the construction of the Larnaca Yacht Club, which will house marina management offices, government services, and public recreational areas. Vafeades noted that the yacht club will become a public recreational space and provide services to marina users.
The minister also announced that an architectural competition will be held to design the yacht club, which is expected to become an iconic building for Larnaca, marking a main gateway to the Republic of Cyprus. Furthermore, plans include the creation of a park and green spaces for public use.
The cost of these works is estimated at €25-30 million, excluding VAT, with the ministry acting as the contracting authority, either independently or in cooperation with the municipality. The modernization of the marina is expected to be completed by September 2026, while the construction of the yacht club is anticipated by December 2027.
Additionally, the ministry and the Larnaca committee have agreed that decisions on the expansion of the marina and port will be made after conducting an expert study, and the development of the port will be evaluated in conjunction with the expansion of the Vasilikos Port. The project will be implemented through a public-private partnership contract process, with consultations with potential investors expected to last no more than three months.
